Raytheon/Leonardo team withdraws from T-X competition

MCKINNEY, Texas, Jan. 25, 2017 /PRNewswire/ -- Raytheon Company (NYSE: RTN) and Leonardo have decided not to jointly pursue the U.S. Air Force Advanced Pilot Training program, known as T-X. The companies released the following statement:

"In February 2016, Raytheon and Leonardo announced their intent to team on the T-X pursuit. While we remain confident that the T-100 is a strong solution, our companies were unable to reach a business agreement that is in the best interest of the U.S. Air Force," said B.J. Boling, Raytheon spokesperson. "Consequently, Raytheon and Leonardo will not jointly pursue the T-X competition."

About RaytheonRaytheon Company, with 2015 sales of $23 billion and 61,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 94 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5I™ products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts. Follow us on Twitter @Raytheon.